πŸ”₯ Quechan Casino Winterhaven, CA Poker Tournaments

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YUMAβ€”The Quechan Tribal Council of the Fort Yuma Quechan Indian Tribe announced a closure of the casino, bar, dining and hotel/resort.


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Get Quechan Casino tickets at rating.bonusmoneygames.site Find upcoming events, shows tonight, show schedules, event schedules, box office info, venue directions, parking and.


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Do you love music concerts and comedy shows? At the Quechan you are sure to find both, so see what's coming up next on the calendar and make plans with.


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Officials with the Paradise Casino in Yuma and Quechan Casino Resort in Winterhaven say those casinos will reopen soon but have not.


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Plan your next event or meeting at Quechan Casino Resort in Winterhaven, CA. Check out total event space, meeting rooms, and request a proposal today.


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When considering future positive rating actions, the tribal council's track record of adherence to conservative financial policies will be a factor. The competitive environment is relatively stable; however, Quechan's addressable market does not exhibit the same depth as higher-rated, single-site peers like Morongo, which caters to the greater Los Angeles market. A track record of political stability will also be viewed positively with respect to the potential upgrade. Limited Geographic Diversification: Quechan has exposure to a single geographic area that is reliant on seasonal tourism, although it operates two assets on the California and Arizona borders. Available liquidity on the casino side has improved over the past two years and is adequate for operating needs. Tribal Council Policies: The tribe experienced leadership turnover in December when a largely new tribal council was elected, although the new council president and vice president had served as members on the previous tribal council. The tribe's reserves provide for roughly one year of governmental operations excluding per-capita payments. Corporate Finance: Leveraged Finance.{/INSERTKEYS}{/PARAGRAPH} The tribe also has appropriate liquidity to weather the near-term cash burn from its property closures, which includes sufficient cash balances at the casino and tribal level. The Rating Outlook revision to Negative from Positive reflects the uncertainty related to the operating pressures resulting from the coronavirus pandemic and the greater probability of a downgrade in the near term. The tribe's refinancing of its capital structure in reduced amortization payments and helped to increase fund balances at the tribal level. Solid Credit Metrics: Quechan's leverage was 1. Fitch expects excess cash to be redistributed to the tribe. We expect leverage to increase above 2. Best- and worst-case scenario credit ratings are based on historical performance. Quechan's near-term maturities are manageable, as is the risk related to its 3. Quechan's credit profile entered the disruption with meaningful headroom at the 'B' IDR level thanks to its conservative leverage of 1. Improved Liquidity: Liquidity has been improving at both the casino level and tribal level. Corporate Finance: Middle Markets. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAA' to 'D'. Fitch believes the tribe's current credit metrics provide considerable cushion for a downturn while maintaining a mid to high 'B' category IDR. The tribe reduced per-capita payments to its tribal members in recent years to help boost liquidity. View additional rating details. The negative impact is mostly felt in calendar second quarter with some recovery seen in the back half of Margins are also slightly pressured relative to levels. Fitch expects the tribe to maintain leverage levels consistent with a 'B' IDR through the disruption; however, its reliance on a single geographic region that is tied to tourism increases the likelihood of a weaker recovery in gaming demand relative to broader U. Debt amortization will continue, albeit at a slower pace, and drive leverage below 2. Numbers in parentheses accompanying applicable model s contain hyperlinks to criteria providing description of model s. Previously, the Positive Rating Outlook reflected the de-leveraging path and improved liquidity of the tribe. Capex is expected to be minimal in the forecast after the tribe recently completed a project at the Paradise Casino. The term loan and TED bonds' repayment schedule is manageable, and the next maturity is in when the term loan comes due. The tribe's refinancing of their capital structure increased financial flexibility and resulted in the tribe developing a stronger cash position. {PARAGRAPH}{INSERTKEYS}The Rating Outlook is Negative. The principal sources of information used in the analysis are described in the Applicable Criteria. However, the 1. International scale credit ratings of Non-Financial Corporate issuers have a best-case rating upgrade scenario defined as the 99th percentile of rating transitions, measured in a positive direction of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario defined as the 99th percentile of rating transitions, measured in a negative direction of four notches over three years. This risk is partially offset by the tribe's conservative leverage and increased financial flexibility following the refinancing. ESG issues are credit neutral or have only a minimal credit impact on the entity ies , either due to their nature or the way in which they are being managed by the entity ies. Fitch could revise the Rating Outlook to Stable when the extent and duration of the impact on the gaming industry becomes more clear, and Fitch gains more confidence in the tribe's ability to maintain leverage below 3. In the event debt service coverage falls below 1. Fitch will monitor the current council's willingness to continue to grow, or at least maintain, the tribe's liquidity as Fitch contemplates future positive rating action. The enterprise generates healthy free cash flow before distributions to the tribe, and the term loan's covenants limit tribal distributions based on cash flow. Payments into a bond reserve account are senior to term loan debt service and distributions to the tribe. Fitch projects Quechan's gross leverage will increase above 2. The tribe's liquidity has improved in the past few years, supported by healthy operational performance, a refinancing that reduced debt service payments and prudent financial policies at the tribal level. The strong credit metrics are somewhat offset by the geographic concentration of Quechan's casinos, with the two assets operating in close proximity to each other in a market with limited growth catalysts. With the closures of the tribe's casinos, the tribe has an adequate amount of cash on hand to service its debt, essential maintenance capex and a level of tribal distributions consistent with historical levels. The tribe's reserves heading into the coronavirus disruption provide for about 10 months of governmental operations excluding per-capita payments.